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29.12.2010 Consumer habits change in Asia

Increased affluence and rising environmental awareness are reshaping popular habits in Asia, exerting an especially noticeable influence on the consumer durables category. Research firm GfK reported that value sales of household appliances in nine major regional markets surged by 23% from January to October 2010 when measured against the same period in 2009. Volumes also climbed 19% across Singapore, Malaysia, Thailand, Hong Kong, Taiwan, South Korea, Philippines, Vietnam, and Indonesia. Shoppers in Indonesia and Philippines boosted their spending by more than 60%, while Thailand and Singapore generated increases topping 30%. Unit purchase totals leapt by over 50% in the Philippines, with Indonesia improving 42.3%, Thailand jumping 22.1% and Vietnam delivering a 20.8% uptick.

Meanwhile, prices rose by 19.5% in Singapore, 14.5% in Indonesia and 9.8% in Thailand, indicating the broad potential offered for brand owners in this sector. "With Asia leading the growth in home sales globally, it is not surprising to see heightened demands for household appliances in this part of the world as well," said Jasmine Lim, regional account director for home appliances, GfK Asia.

B.L. 29.12.2010